08/24/1998 Council Minutes (2) - Laserfiche WebLink

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• • • Council member Lyden introduced the following resolution and moved its adoption: CITY OF LINO LAKES RESOLUTION NO. 98-143 RESOLUTION CERTIFYING THE PROPOSED 1998 TAX LEVY, COLLECTABLE IN 1999. WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenditures for General Fund operating costs anticipated in the year 1999, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards Certificate of Indebtedness obligations, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the Public Project Revenue Bonds, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the City Complex Bonds, and WHEREAS, the City of Lino Lakes is in need of certain funds to pay expenses towards the G.O Improvement Bonds of 1998B, and WHEREAS, the City of Lino Lakes is restricted by levy limitations imposed by the State of Minnesota. NOW THEREFORE BE IT RESOLVED, that the City of Lino Lakes, Anoka County, Minnesota, hereby does levy on a proposed basis the following upon taxable property in said City of Lino Lakes, to -wit: 1. Total amount levied in the year 1998 to be spread for taxes due and payable in the year 1999 (without HACA) is $3,950,227. 2. The total amount above levied (without HACA) is for the following purposes: GENERAL OPERATING $3,172,531 General Bonded Debt Public Project Revenue Bonds 110,608 Civic Complex Bond 1998A 253,601 G.O. Improvement Bond 1998B 131,922 Equipment Certificates of 1996 79,692 Equipment Certificates of 1997 79,692 Equipment Certificates of 1998 122,181 Total General Obligation Bonded Debt $ 777,676 TOTAL LEVIES $3,950,227 BE IT FURTHER RESOLVED by the Lino Lakes City Council that the general fund operating budget and special levies for Equipment Certificates, Public Project Revenue Bonds, Civic Complex Bond and G.O. Improvement Bonds of 1998B as reviewed by the City Council represents the basis for this levy. Individual